Good news PETROL PRICE CUT Tesco and Morrisons follow Asda as supermarket sparks fuel price war by unveiling 2p per litre petrol cut.
Unleaded will fall to a new national price cap of 114.7p per litre and diesel will drop to 116.7ppl when the prices take effect tomorrow
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TESCO and Morrisons have followed Asda by announcing a 2p per litre cut for petrol as the supermarkets start a fresh fuel price war.
Unleaded will fall to a new national price cap of 114.7p per litre and diesel will drop to 116.7ppl when the new prices take effect tomorrow.
The price cut has fuelled speculation that other supermarkets could follow suit
The price cut has fuelled speculation that other supermarkets could follow suit
The cuts are the first on the forecourt since November – and come just days after the Chancellor kept fuel duty frozen in the Budget.
A recent report claimed petrol prices have leapt by nearly 17 per cent in the past year on the back of higher oil prices.
But Brent crude has plunged in recent weeks and hit a three-month low earlier today.
Philip Hammond kept fuel duty frozen in the Budget
The cut will be a bumper boost for the Treasury as inflation rises back towards the Bank of England’s two per cent target. Economists fears household spending power will be crunched this year as the nation’s food bill soars.
RAC fuel spokesman Simon Williams said: “While this cut may come as a surprise to drivers as prices at the pump have been going the wrong way for months, it has has been on the cards for a couple of weeks.
“We’re very relieved retailers have acted without any need for outside encouragement.”